The Dangote Petroleum Refinery has raised the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦1,175 per litre, prompting depot operators across the country to temporarily halt sales.
The refinery had previously lowered the ex-depot price by ₦100 to ₦1,075 per litre on March 10, 2026, down from the earlier ₦1,175 per litre. Following that reduction, depot operators sold petrol at an average price of about ₦1,100 per litre.
The suspension of sales occurred on Friday at several depots nationwide, as operators stopped transactions in response to the refinery’s latest price adjustment, which restored the ex-depot rate to ₦1,175 per litre.
Industry sources reported that the refinery has temporarily halted loading operations to reconcile existing stock and adjust distribution according to the updated pricing framework.
The price revision comes amid rising global crude oil prices, with Brent crude oil increasing from about $91 to $100 per barrel, significantly impacting the cost of refining petroleum products.
Analysts warn that the adjustment may lead to higher retail pump prices if marketers pass on the increased ex-depot cost to consumers.
Stakeholders in Nigeria’s downstream petroleum sector are closely monitoring the situation as marketers await further clarity on supply and pricing arrangements.
